FTC-PR-240313-1 (Mar. 13, 2024) FTC Sends More Than $4.1 Million in Refunds to People Who Lost Money to Student Loan Debt Relief Scheme – Agency said scammers lured consumers with fake loan forgiveness and pocketed their money. The Federal Trade Commission is sending more than $4.1 million in refunds to people who lost money to […]
Category: Student Loans
Student Loans are financial aids provided to help cover the costs of higher education, which borrowers repay over time with interest. However, fraud in student loans can manifest in various ways, including identity theft, where criminals use someone else’s personal information to obtain loans, or falsifying information on loan applications to secure higher amounts than needed. Scammers may also exploit borrowers by offering fraudulent loan forgiveness schemes or charging fees for services that should be free, such as application assistance or repayment counseling. These fraudulent activities not only harm borrowers financially but also contribute to widespread issues of debt and financial instability.
CFPB-PR-240105-1 (Jan. 5, 2024) CFPB Report Identifies Challenges Faced by Borrowers in Resumption of Student Loan Payments – CFPB oversight identifies long hold times, inaccurate billing statements, and processing delays. Date: Jan. 5, 2024 Accessed: Aug. 26, 2024 Source URL: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-identifies-challenges-faced-by-borrowers-in-resumption-of-student-loan-payments/ Categories: CFPB CFPB-24 CFTC-2401 Agency Report Student Loans PDF Notes: The PDF viewer below […]